Saving Michigan One Mortgage At A Time

Mortgage and Lending -
With all of the gloom and doom about the Michigan real estate and mortgage marketplaces - let's find some good things to say!
OK, here's a review of October's activity and today's current pipeline. October closed: 3 foreclosure purchases  3 non-arm's length transactions (2 Mothers selling to daughters and 1 son buying from Mother and 4 siblings)2 refinances Today's pipeline:1.  Refi (Dearborn) 2.  Foreclosure purchase (...
With the hearings today on Capitol Hill, let us all be prepared for the media hype to follow.  My favorite line - which I hear repeated over and over (no doubt part of distributed "talking points") is the reference to "outlawing kickbacks from lenders to brokers for talking customers into taking ...
Disclaimer:  What I am writing here should not be construed in any way as support for over-pricing, price-gouging, or deceptive business practices of any kind.  I also admit freely and fully that I am not a neutral or disinterested party.  Check my profile and you will see the links to my Nationa...
There's a tad of media hype in this one, but it seems to be to be actually a fairly balanced ariticle.  It drives home the consequences that some families are dealing with in one Arizona town - putting a human face on some of the statistics that we read every day.Good work by Adam Geller.http://w...
These can be complicated little files - significantly more work that than most and relatively few lenders who will support them but....If you as a Realtor have a customer who sees an opportunity in a property that is distressed, but with some renovation/rehabilitation could be a gem, help them to...
After all of the recent huffing, puffing, and hyperbole regarding the mortgage industry, it's nice to see a media outlet as respected as the Washington Post carrying an article such as this: Borrowers Are Feeling Some Heat, but It's Not a 'Mortgage Meltdown': By Kenneth Harneyhttp://www.washingto...
This sets a new personal-best record for me!  Amazing that as the mortgage world is undergoing such turmoil that the opportunity would exist to help someone who has a 536 middle score buy their very first home with no money down. Thank you to:1.  Fannie Mae's Expanded Approval Initiative2.  Washi...
Well, I've never blogged before in my life - so bear with me if there are any gaffes or faux pauxs! I'll always try and be brief and to the point - and today I just want to mention some of the GREAT things that are going on in Michigan:1.  There are still 100% financing programs available.  I can...

Ted Lyons

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With all of the gloom and doom about the Michigan real estate and mortgage marketplaces - let's find some good things to say!